For this property, negotiations with various hotel chains were conducted. There was considerable interest due to the excellent location of the property. The property area is a fast -growing one. The maps below show new or planned developments in red and the Redmond property as "Hotel". We assessed the various offers from hotel chains: rental contracts, management agreements, franchise agreements and project sale. A franchise agreement with a leading global brand was found to be the best risk-reward balance. However, COVID's impact on the hotel sector led to Redmond deciding in favor of a commercial building instead. The building is currently fully tenanted.
